The vision of the Fund is to, as a key state actor in the development of Serbia's innovation system, contribute to the country's economic growth by supporting innovation, strengthening the link between science and economy, establishing new and strengthening existing companies with innovative potential, through various financial instruments. The Fund's mission is to support the development of innovation through appropriate financial, technical and advisory support instrument
Name in original language
Fond Za Inovacionu Delatnost
Initiative overview
Objectives:To contribute to the country's economic development by supporting innovation, strengthening the link between science and economy, establishing new and strengthening existing companies with innovative potential, through various financial instruments.GovTech Program:The GovTech program aims to encourage the public sector to use innovative technological solutions in the provision of services and in its operations, thus accelerating the digital transformation of the public sector and "opening the door" to disruptive technologies. This approach to the modernization of the public sector promotes a simple, efficient and transparent state administration with a focus on citizens. One of the ways in this approach is the cooperation of the public sector with innovative entities, which, using data, disruptive technologies and innovative methodologies, create products and services that solve challenges in the public sector.The GovTech program is implemented in two phases:First stage: Public sector entities submit applications in which they submit problems, that is, challenges they face, for which no adequate solution is available on the market. The result of the first phase is a list of approved public sector challenges for which an innovative solution will be sought in the second phase.Second phase: Innovative entities and scientific research organizations submit applications with innovative solutions to public sector challenges, selected in the first phase of the program.Smart Start Program:The goal of the Smart Start program is to support the most promising teams in their efforts to validate business ideas and demonstrate the usefulness of their products/services/technologies, through the development of the first prototype or minimum viable product (MVP).The science and business cooperation program is designed to encourage companies from the private sector and public scientific research organizations to implement joint scientific research and development projects with the aim of creating new products and services, i.e. innovative technologies, with market potential.Through this Program, the Fund for Innovation Activity provides financial support to innovative technological projects with a clear vision of development and a defined business model and commercialization strategy.The Catapult acceleration program is a support mechanism for technological development and innovation intended for startups that are in the early stages of product development and market conquest (Ideation), as well as companies with proven market traction that aim to accelerate their growth and raise additional funding (Scale- see). Catapult consists of a three-month program of intensive training with financial support in order to develop the startup as quickly as possible and create conditions for rapid growth. The training is organized through mentoring provided by local and international experts, successful startup founders and investors,
Name of responsible organisation (in English)
Ministry of Education, Science and Technological Development
